Question 33 (2 points) Saved Raven Corp. sells merchandise on account for $4,000 to Eagle Corp., terms 2/10, n/30. Eagle returns $1,600 worth of merchandise that was damaged, along with a cheque to settle the account within the discount period. What entry does Raven make upon receipt of the cheque? 2,352 1,600 48 4,000 Cash........ Sales Returns and Allowances.. Sales Discounts....... Accounts Receivable... Cash..... 2,320 Sales Returns and Allowances... Sales Discounts... Accounts Receivable.. Cash 2,320 Sales Discounts... Sales Returns and Allowances...1,600 Accounts Receivable....... ....... 1,568 64 4,000 80 4,000 Cash.... 2,400 Accounts Receivable.. 2,400 Question 36 (2 points) Saved A company just starting in business purchased three merchandise inventory items at the following prices. March 2, $150; March 7, S160; and March 15, S180. If the company sold two units for $250 each on March 10 and March 20, and used the FIFO cost formula in a perpetual inventory system, the gross profit for March would be $190 $200 O $150 $180